Turning Your Largest Asset Into Your Smartest Asset

Chris FrazierUncategorized

As wealth managers, we are always trying to help our clients realize their retirement dreams. At the end of the day, it’s not the size of your net worth that matters, but how you turn it into a monthly paycheck so you can enjoy your retirement.

As you enter your retirement years, your home may be one of your largest assets. It might also be one that brings new challenges as you contemplate your golden years. Perhaps your home does not have an ideal floor plan, the maintenance and care could be overwhelming or maybe that second floor master bedroom seems less than ideal. Not only are there lifestyle considerations, but how does this asset fit into your retirement planning?

Many seniors are considering the idea of “smart sizing” as part of their comprehensive life planning. Smart sizing is matching your home to your lifestyle in aspects such as size, layout, price and function. This can have benefits ranging from reducing costs and expenses of maintaining a larger home, to actually freeing up assets that can turn into positive retirement income.

There is no “one size fits all” answer to this issue, but it is one that we are prepared to help you think through. You could possibly need a cash flow and expense projection. Maybe you need to consider what a smart withdrawal rate is on your portfolio, and how your primary residence fits into your plan. This is a topic that really merits some thought as you get closer to retirement, or as your retirement progresses and your needs evolve.

If you have any questions on smart sizing, or need help with projections or thinking through various scenarios, please let us know. We are always happy to share our insights from working with countless families and individuals dealing with the same questions you have.

If you’d like to read more on this topic, please check out www.rvasmartsizing.com.

– Your Equity Concepts Team

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About Equity Concepts: Equity Concepts was founded in 1991 as a wealth management firm focused on exceptional service and institutional investment access. This strategic focus allows Equity Concepts’ clients to gain the most from a relationship with the firm. Equity Concepts provides comprehensive investment and financial services to individuals, families, businesses and institutions. To learn more about Equity Concepts, please visit www.equity-concepts.com.

Registered Representative, Securities offered through Cambridge Investment Research, Inc., a Broker/ Dealer, Member FINRA/ SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Cambridge and Equity Concepts LLC and are not affiliated. Flackable is not affiliated with Cambridge.